The altcoin market is showing signs of a potential uptrend, gearing up for a fresh altseason in the near future. Amidst this, TON coin is poised to reach a new All-Time High (ATH) surpassing $9 in the upcoming days. However, bearish sentiments loom over the current trading environment, hinting at a possible pullback once certain price levels are reached. The question arises whether TON will hit $10 this week and if it can sustain significant gains over time.

Currently, the TON price is in a consolidation phase, tightly squeezed within a defined range. Despite a slight increase in trading volume favoring the bulls, there is a likelihood of an upward consolidation pattern emerging. The coin has maintained an upward trajectory for the last two weeks, establishing a solid base for potential bullish movements ahead.

Analyzing the price chart, TON is observed to be trading within a rising wedge pattern, nearing its ATH by just 2.32%. This proximity suggests that a new ATH is imminent, prompting bullish activity to propel the price to new highs, potentially reaching $8.5. While this may attract some bearish pressure, it is not indicative of a bearish trend reversal as the bulls are expected to initiate another bullish phase.

The Relative Strength Index (RSI) has been above the average range since the start of May, indicating the increasing strength of the bulls in the market. This trend signals a potential breakout above the upper threshold into overbought territory, pushing the Toncoin (TON) price beyond $9.5. However, before breaching the $10 mark, exhaustion among the bulls could lead to a 25% pullback to facilitate a correction.